Centerra Gold Q1 revenue up 62% on strong production at Mount Milligan and Öksüt

Centerra Gold

29/04/2026 22:13

Overview

Canada gold and copper miner's Q1 revenue rose 62% yr/yr, driven by strong production at Mount Milligan and Öksüt

Company returned $33 mln to shareholders via buybacks and dividends in Q1

Outlook

Centerra sees 2026 gold production at 250-280k oz and copper at 50-60 mln lbs

Company expects 2026 gold production costs of $1,500-$1,600/oz and AISC of $1,650-$1,750/oz

Centerra to publish 2026 Langeloth operating guidance with Q2 2026 results

Result Drivers

ÖKSÜT HIGHER GRADES - Öksüt Mine delivered higher than planned gold production due to higher grades, resulting in lower unit costs

MOUNT MILLIGAN BY-PRODUCT CREDITS - Mount Milligan's AISC benefited from higher copper and silver prices, offsetting higher gold production costs

INVENTORY BUILD-UP AT LANGELOTH - Langeloth's Q1 results reflected increased working capital and inventory build-up during temporary shutdown

Company press release: ID:nGNX6LPqf9

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$484.70 mln
$347.86 mln (1 Analyst)
Q1 Adjusted EPS
Meet
$0.44
$0.44 (7 Analysts)
Q1 EPS
$0.40
Q1 Adjusted Net Income
$88.20 mln
$87.10 mln (1 Analyst)
Q1 Net Income
$79.40 mln
Q1 Free Cash Flow
$49 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Centerra Gold Inc is C$34.00, about 37.9% above its April 28 closing price of C$24.65

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)